Buyer appetite for convenience retail assets in the North East remains strong, reports Christie & Co
Specialist business property adviser, Christie & Co is pleased to report buyer appetite for convenience retail assets in England’s North East remains strong, following four completions in July. Assets are attracting a wide pool of retail investors, from experienced multi operators to first time buyers, illustrating the sector is considered a solid industry in which to invest in.
Business. Built around You.
Your expert business property advisers
Recent deals include the sale of Kirkby News, a local newsagent and general store located on the bustling high street in the affluent North Yorkshire town of Kirkbymoorside. Ripe for modernisation and growth, the store presented an excellent opportunity for a wide range of buyers and was purchased by an experienced multi operator with a portfolio of forecourt and convenience sites.
This was followed by the sale of Premier Kirkwood News, Food & Wine, a high turnover convenience store in North Kenton, Newcastle upon Tyne. The site came to market as a retirement sale after 30 years of ownership and sold to an experienced multi operator who identified the potential to develop and expand the store.
The following week, Christie & Co brokered the sale of Chester Road West Post Office in Sunderland to a first-time buyer relocating to the North East. Boasting a busy high street location and well presented four-bedroom owner’s accommodation, the site generated significant interest and was placed under offer after one week of coming to the market.
Within the same week, Christie & Co completed on the sale of Kelly’s Newsagents, located in the Durham town of Ferryhill, to another first-time buyer. The Go Local-branded store generated solid interest and five offers before it was sold to the new owner.
Robert O’Brien, Business Agent in Christie & Co’s North East Retail team comments, “As evidenced of late, buyers continue to show strong interest for good quality opportunities throughout the region, making it a great time for retailers to consider selling.”
The latest convenience retail market insights can be found in Christie & Co’s Retail & Leisure 2024 Mid-Year Market Insight. To read the full report, click here.
------------------------------------------------------
For further information on this press release, contact:
Bronte Hughes, Corporate Communications Manager
P: 020 7227 0794 or E: bronte.hughes@christie.com
Visit Christie & Co’s Business Search page to find out more about current listings.